Current Affairs - Business

UltraTech Cement, a flagship company of the Aditya Birla Group, received approval from the Competition Commission of India (CCI) for its ₹3,954-crore acquisition of India Cements Ltd (ICL). This strategic deal involves a significant stake acquisition, including shares from ICL promoters and associates, to enhance UltraTech’s market presence in the southern cement market, especially in Tamil Nadu. The acquisition aligns with UltraTech’s growth strategy to expand its installed capacity and strengthen its position as a global leader in the cement industry.

Tally Solutions has collaborated with DPIIT to mentor manufacturing startups by providing workshop-based training on financial management, compliance, marketing, and digitization. As part of this initiative, startups will benefit from free Tally Prime licenses, expert-led sessions, and networking opportunities, enabling them to streamline their operations and foster sustainable growth.

Max Life Insurance has rebranded to Axis Max Life Insurance following regulatory and corporate approvals. As part of the rebranding, Axis Bank increased its stake in Max Life to 19.99%, while Max Financial Services Ltd's stake was reduced from 87% to 81%. The rebranding also includes a new logo that incorporates Axis Bank's 'A' and a burgundy shade, symbolizing the strengthened partnership between the two entities. This move reflects the growing collaboration and alignment between Axis Bank and Max Life Insurance.

BMW has partnered with UNICEF to enhance STEM education in rural India. This collaboration aims to improve foundational learning and STEM skills for 100,000 children in regions such as Assam, Jharkhand, Tamil Nadu, and West Bengal. The initiative focuses on marginalized adolescent girls in Kasturba Gandhi Balika Vidyalayas and Tribal Ashramshalas, promoting gender equality and aligning with India’s national education and gender goals for inclusive growth. This partnership highlights BMW's commitment to supporting education and gender equality in India.

Coca-Cola sold a 40% stake in its India bottling business, Hindustan Coca-Cola Holdings (HCCH), to Jubilant Bhartia Group for ₹12,500 crore, valuing the company at ₹31,250 crore. This sale aligns with Coca-Cola's asset-light refranchising strategy and will help strengthen its presence in India, its fifth-largest market. The transaction also marks a significant step for Jubilant Bhartia Group to expand its portfolio in the beverage sector, leveraging its expertise from businesses like Domino’s and Dunkin’ to boost growth in the bottling sector.